Magna Reports Higher Sales

Updated Feb. 25, 2003 12:01 a.m. ET

Magna International Inc., a major automotive-parts supplier, reported fourth-quarter net income of $110 million, or $1.10 a share, down 6.8% from net of $118 million, or $1.28 a share, a year earlier. Revenue rose 25% to $3.55 billion from $2.83 billion. The Aurora, Ontario, company said higher sales reflected a 26% increase in per-vehicle content in Europe and a 20% increase in per-vehicle content in North...